08:06 AM EDT, 07/26/2024 (MT Newswires) -- Nexstar Media Group ( NXST ) said Friday that its board has maintained its quarterly cash dividend of $1.69 per share and announced a $1.5 billion stock repurchase program.

The dividend is payable Aug. 23 to shareholders of record on Aug. 9, according to the company.

The new repurchase program is in addition to the company's existing buyback program, which was launched two years ago and had $496 million remaining as of May 8, Nexstar Media ( NXST ) said.